The F-14B was initially designated F-14A+ by the U.S. Navy. The addition of the GE F110 engines over the original P&W power-plant provided a significant boost in power and safety. The P&W TF-30 was prone to compressor stalls at all flight envelopes. The ALR-67 RADAR Homing and Warning system was introduced on the F-14B. The original AWG-9 RADAR was retained along with many of the A-model's systems. The ability to carry a LANTIRN pod was added to all Tomcats later on in the type's service life.

38 F-14s were built, new, as B-models and 48 F-14As were converted on overhaul. The F-14B served in Desert Storm, Operation Southern Watch, Desert Fox, The Balkan Campaign and Operation Iraqi Freedom/Enduring Freedom. The F-14B was drawn down before the type's final retirement from U.S. Navy service on 9/22/2006. The F-14B was never exported outside of the U.S.